- The Ankr token was currently at $0.03741 with a decrease of 7.55% during the intraday trading session.
- The 24-hour low of ANKR was $0.03735 and the 24-hour high of ANKR was $0.04068.
- The current Ankr token price is above 20, 50, 100, and 200-Day EMA.
The pair of ANKR/BTC was trading at 0.000001598 BTC with a dip of 1.60% over the intraday trading session. Ankr price analysis suggests that it is currently in a downtrend. After the start of 2022, the token was decreasing but buyers took over the market and pushed the token upwards helping it to make its new 52-week high.
Soon after that sellers entered the market and dominated the market till the end of the year. Buyers tried to keep the token above its primary support but near the end of the year, sellers pushed the token below its primary support forcing ts to make its 52-week low at the end of the year. After the start of 2023, the token again started rising constantly breaking its primary support and resistance and reaching its secondary resistance of $0.054.
But just after the token break its secondary resistance sellers entered the market and took back the market from buyers and started the downtrend of the token. Sellers push back the token near its primary resistance. This gives the signal for the long traders to close their trades in the market.
The volume of the coin has decreased by 23.64% in the last 24 hours. The decrease in volume indicates that the number of sellers has increased. This shows that sellers are trying their best and there is a relationship between volume and the price of ANKR, which represents strength in the current bearish phase. This indicates that heavy selling is happening in the market.
The technical analysis of Ankr
RSI is decreasing in the overbought zone and is showing signs of a negative crossover which indicates that the sellers are coming in the majority and pushing ANKR downwards. This suggests the strength of the current bearish trend. The current value of RSI is 52.67 which is below the average RSI value of 65.68.
The MACD and the signal line are decreasing and showing a negative crossover which supports the RSI claims. Investors need to watch every move over the charts during the day’s trading session.
Conclusion
Ankr price analysis suggests that the token is in a downtrend. After making its new 52-week high the token was dominated by the sellers forcing it to make its new 52-week low near the end of the 2022 year. But after the start of 2023, the token again started rising, breaking its primary support and resistance. Soon after the token broke its secondary resistance sellers pushed back the token near its primary resistance. RSI and MACD both are showing negative crossover which suggests strength in the current bearish trend, as per the technical indicators.
Technical Levels-
Resistance level- $0.036 and $0.054
Support level- $0.025 and $0.015
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.